The 3-day event will be co-located with ICSE, BioPh, InnoPack and P-MEC in conjunction with LABWorld

Singapore: CPhI Japan, organized by UBM EMEA, is set to begin at the Big Sight Exhibition Center, Tokyo, Japan, from April 22-24, 2015. In its 14th consecutive year, CPhI 2015 will see the event co-located with ICSE, BioPh, InnoPack and P-MEC, in conjunction with LABWorld.

Examining the market, CPhI forecasts that the next wave of Japanese growth will be driven primarily by the recent uptake of generics and the pharma economy will soar to a value of $166 billion by 2023. Collectively, this means that the Japanese pharma economy is shifting away from being a domestically dominated market, with companies now utilizing a more open, internationally collaborative approach.

Within the country there is a duel strategy emerging, with big pharma still maintaining the vast majority of the market through high-value, innovative drugs. In fact, this focus on big pharma has resulted in Japan's status as the third largest producer of patented drugs.

Over the next few years, Japanese companies will be responsible for some of the biggest breakthroughs in healthcare. The Government support for the industry and its reimbursement model continues to makes this event a huge attractive market for the development of new drugs.

However, CPhI indicates that this dynamic is shifting, as the organization observes an increased use of generic drugs which will act as the key contributor for future growth and will gradually help reduce the overall healthcare cost for the country, presenting opportunities for a new type of market entrant.